Income Tax rates for Tanzania 2016-2017

The Finance Act, 2016 has confirmed the new income tax rates (PAYE rates) for the fiscal year 2016-2017. Apart from a reduction of 2% in the second band, there is no change. This will result in a maximum saving of TZS 3,800 for employees who earn TZS 360,000 or above. For professional tax advice, connect […]

Tanzania’s Finance Bill, 2016 & Finance Act, 2016

Tanzania’s Finance Bill, 2016 is released to public on 13 June 2016. The following are summary of the proposals as per the first draft (as compared to and in addition to the Budget Speech): UPDATE: 23 June 2016 : The Tanzanian Finance Act, 2016 has been passed by parliament. The relevant changes are highlighted in […]

Tanzania Budget 2016-2017 – Proposed changes

Its that time of the year again when Ministers of Finance in the East African Countries pose for a photo with the famous Budget briefcases before addressing their respective national assemblies to unveil the proposed national budget. The Tanzanian Minister of Finance and Planning, Hon. Dr. Philip Mpango, gave a speech to introduce to the […]

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